{"id":474807,"date":"2021-10-28T03:08:45","date_gmt":"2021-10-28T03:08:45","guid":{"rendered":"https:\/\/ktsl888.com\/?p=474807"},"modified":"2024-06-11T13:59:52","modified_gmt":"2024-06-11T13:59:52","slug":"bitcoin-dives-below-60k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-dives-below-60k\/","title":{"rendered":"Bitcoin Dives Below $60K, Why Bulls Could Struggle In Short-Term"},"content":{"rendered":"<p><em>Bitcoin price failed to stay above the $60,000 level against the US Dollar. BTC is consolidating losses and it remains at a risk of more downsides below $58,000.<\/em><\/p>\n<ul>\n<li>Bitcoin extended its decline below $62,000 and $60,000 support levels.<\/li>\n<li>The price is now trading below $60,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $60,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair remains at a risk of more downsides below the $58,000 level in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Losses<\/h2>\n<p>Bitcoin price failed to stay above the key <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-could-correct-below-60k\/\" target=\"_blank\" rel=\"noopener \">$62,000 and $60,000 support levels<\/a>. As a result, there was a crucial downside break below $60,000.<\/p>\n<p>The price even settled below the $60,000 level and the 100 hourly simple moving average. A low is formed near $58,140 and the price is now consolidating losses. An immediate resistance on the upside is near the $59,500 level.<\/p>\n<p>It is near the 23.6% Fib retracement level of the recent drop from the $63,700 swing high to $58,140 low. The first major resistance is near the $60,000 level. The main breakout zone is now forming near the $61,000 level and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/why-bitcoin-needs-to-clear-64k-for-hopes-of-a-fresh-rally\/\" target=\"_blank\" rel=\"noopener \">100 hourly SMA<\/a>.<\/p>\n<p>The 50% Fib retracement level of the recent drop from the $63,700 swing high to $58,140 low is also near $60,900. Besides, there is a key bearish trend line forming with resistance near $60,900 on the hourly chart of the BTC\/USD.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-474809\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?resize=1791%2C732\" alt=\"Bitcoin Price\" width=\"1791\" height=\"732\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?w=1791 1791w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/Bitcoin-19.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>A clear break above the trend line resistance and then $61,000 may possibly call open the doors for a move towards the $62,000 level. The next major resistance sits near the $64,000 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If bitcoin fails to clear the $60,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $58,200 level.<\/p>\n<p>The first major support is now forming near the $58,000 level. A break below the $58,000 support may possibly push the price towards the $57,200 support zone in the near term. The next key support is near the $56,500 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $58,200, followed by $58,000.<\/p>\n<p>Major Resistance Levels \u2013 $59,500, $60,000 and $60,900.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to stay above the $60,000 level against the US Dollar. BTC is consolidating losses and it remains at a risk of more downsides below $58,000. Bitcoin extended its decline below $62,000 and $60,000 support levels. The price is now trading below $60,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $60,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair remains at a risk of more downsides below the $58,000 level in the near term. Bitcoin Price Extends Losses Bitcoin price failed to stay above the key $62,000 and $60,000 support levels. As a result, there was a crucial downside break below $60,000. The price even settled below the $60,000 level and the 100 hourly simple moving average. A low is formed near $58,140 and the price is now consolidating losses. An immediate resistance on the upside is near the $59,500 level. It is near the 23.6% Fib retracement level of the recent drop from the $63,700 swing high to $58,140 low. The first major resistance is near the $60,000 level. The main breakout zone is now forming near the $61,000 level and the 100 hourly SMA. The 50% Fib retracement level of the recent drop from the $63,700 swing high to $58,140 low is also near $60,900. Besides, there is a key bearish trend line forming with resistance near $60,900 on the hourly chart of the BTC\/USD. Source: BTCUSD on TradingView.com A clear break above the trend line resistance and then $61,000 may possibly call open the doors for a move towards the $62,000 level. The next major resistance sits near the $64,000 level. More Losses In BTC? If bitcoin fails to clear the $60,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $58,200 level. The first major support is now forming near the $58,000 level. A break below the $58,000 support may possibly push the price towards the $57,200 support zone in the near term. The next key support is near the $56,500 level. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $58,200, followed by $58,000. Major Resistance Levels \u2013 $59,500, $60,000 and $60,900.<\/p>\n","protected":false},"author":67,"featured_media":460738,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-474807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Dives Below $60K, Why Bulls Could Struggle In Short-Term<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to stay above the $60,000 level against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Dives Below $60K, Why Bulls Could Struggle In Short-Term","url":"http:\/\/ktsl888.com\/news\/bitcoin-dives-below-60k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-dives-below-60k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/shutterstock_1418423411.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/shutterstock_1418423411.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-10-28T03:08:45Z","datePublished":"2021-10-28T03:08:45Z","dateModified":"2024-06-11T13:59:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Dives Below $60K, Why Bulls Could Struggle In Short-Term\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-dives-below-60k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-dives-below-60k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1418423411.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1418423411.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-10-28T03:08:45Z\",\"datePublished\":\"2021-10-28T03:08:45Z\",\"dateModified\":\"2024-06-11T13:59:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/shutterstock_1418423411.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/474807"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=474807"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/474807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/460738"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=474807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=474807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=474807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}